India to seek $15 billion of investment to double mining output

The Kolkata-based state miner, which accounts for more than 80 percent of India’s coal output, has seen production rise year-on-year every month since August. (Image courtesy of Amnesty International India)

India expects to woo 1 trillion rupees ($15 billion) of investment over five years to double mining output and cut mineral imports.

The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal said in an interview. The administration will invite foreign companies to participate, he said, while acknowledging challenges such as land acquisition and environmental hurdles.